News: RIO Rio Tinto Posts QTRLY Pilbara Iron Ore Shipments (100% Basis) Of 79.9 MT

July 15 (Reuters) - Rio Tinto Ltd (RIO) :

• QTRLY PILBARA IRON ORE SHIPMENTS (100% BASIS) 79.9 MT VERSUS 76.3 MT AS REPORTED LAST YEAR
• QTRLY PILBARA IRON ORE PRODUCTION (100% BASIS) 78.6 MT VERSUS 75.9 MT AS REPORTED LAST YEAR
• QTRLY MINED COPPER 126 KT VERSUS 115.5 KT AS REPORTED LAST YEAR
• QTRLY ALUMINIUM PRODUCTION 731 KT VERSUS 816 KT AS REPORTED LAST YEAR
• FULL YEAR SHIPMENTS GUIDANCE REMAINS UNCHANGED AT 320 TO 335 MILLION TONNES
• FOR GUDAI-DARRI, EXPECT INCREASED PRODUCTION VOLUMES AND IMPROVED PRODUCT MIX IN H2, WITH GUDAI-DARRI CAPACITY TO BE REACHED IN 2023
• PILBARA IRON ORE 2022 UNIT COST GUIDANCE OF $19.5-$21.0 PER TONNE REMAINS UNCHANGED
• COPPER C1 UNIT COST GUIDANCE IN 2022 IS UNCHANGED AT 130-150 US CENTS/LB
• PILBARA OPERATIONS PRODUCED 78.6 MILLION TONNES (100% BASIS) IN THE SECOND QUARTER 2022, 4% HIGHER THAN THE SECOND QUARTER OF 2021
• ECONOMIC OUTLOOK WEAKENING DUE TO RUSSIA-UKRAINE WAR, TIGHTER MONETARY POLICY TO CURB RISING INFLATION, COVID-19 RESTRICTIONS IN CHINA
• PRICES FOR COMMODITIES DECREASED IN QUARTER, AMIDST GROWING RECESSION FEARS AND A DECLINE IN CONSUMER CONFIDENCE
• TRADE DISRUPTIONS, FOOD PROTECTIONISM AND GLOBAL FOCUS ON SECURING ENERGY SUPPLIES CONTINUE TO PUT PRESSURE ON SUPPLY CHAINS
• FOR GUDAI-DARRI, FULL YEAR SHIPMENTS GUIDANCE REMAINS UNCHANGED AT 320 TO 335 MILLION TONNES
• COST AND SCHEDULE REFORECAST OF OYU TOLGOI RESULTING IN A TOTAL PROJECT COST ESTIMATE OF $7.06 BILLION
• FOLLOWING RECORD HIGH ALUMINIUM LME PRICE IN Q1, EXPECTED DISRUPTION TO RUSSIAN ALUMINIUM PRODUCTION DID NOT MATERIALISE IN QUARTER
• QTRLY BAUXITE PRODUCTION OF 14.1 MILLION TONNES WAS 3% HIGHER THAN THE SECOND QUARTER OF 2021
• QTRLY BAUXITE PRODUCTION HIGHER YOY DUE TO STRONG OPERATIONAL PERFORMANCE AT WEIPA AS RESULT OF IMPROVED PLANT RELIABILITY AT AMRUN
• ENGAGEMENT WITH GOVERNMENT OF GUINEA CONTINUES TOWARDS RESUMPTION OF FORMAL NEGOTIATIONS AND PROJECT ACTIVITIES AT SIMANDOU IRON ORE PROJECT
• AFTER SHARP PRICE INCREASES IN PREVIOUS QUARTERS, LITHIUM CARBONATE PRICES STABILISED IN Q2, AS SUPPLY STARTS TO KEEP PACE WITH DEMAND
• REPORTED INVENTORIES CONTINUE TO DECLINE AND HIGH POWER PRICES ARE LIMITING PRODUCTION GROWTH OUTSIDE CHINA
• QTRLY ALUMINIUM PRODUCTION OF 0.7 MILLION TONNES WAS 10% LOWER THAN THE SECOND QUARTER OF 2021
• AS GUDAI-DARRI CONTINUES TO RAMP-UP, EXPECT INCREASED PRODUCTION VOLUMES AND IMPROVED PRODUCT MIX IN THE SECOND HALF
• IN FIRST HALF OF 2022, INCREASED CHARGES OF APPROXIMATELY $400 MILLION PRE-TAX WITHIN UNDERLYING EARNINGS
• CAPITAL EXPENDITURE FOR 2022 FOR OUR EXISTING OPERATIONS REMAINS UNCHANGED AT AROUND $8.0 BILLION
• CAPITAL EXPENDITURE FOR 2023 AND 2024 IS STILL EXPECTED TO BE BETWEEN $9.0 AND $10.0 BILLION ANNUALLY
• 2022 ALUMINA GUIDANCE IS NOW EXPECTED TO BE 7.6 TO 7.8 MILLION TONNES
• EASING OF VARIOUS INTERSTATE & INTERNATIONAL BORDER RESTRICTIONS DURING H1 ENABLED INCREASED MOVEMENT OF PEOPLE AND GOODS TO SITES
• 2022 ALUMINIUM GUIDANCE HAS BEEN LOWERED TO 3.0 TO 3.1 MILLION TONNES
• CURRENTLY EXPERIENCING ELEVATED LEVELS OF UNPLANNED ABSENCES AT PILBARA OPERATIONS DUE TO COVID-19 CASE SPIKES IN WESTERN AUSTRALIA